INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT)

The components of income tax expense and the effective tax rates for the years ended December 31, 2023 and 2022 are as follows:

	Year Ended December 31,
	2023			2022
Current:
Federal	$	92,350		$	-
State		-			-
Total Current		92,350			-
Deferred:
Federal		6,176,130			(3,905,452	)
State		(454,675	)		1,163,407
Total Deferred		5,721,455			(2,742,045	)
Valuation Allowance		(5,721,455	)		2,742,045
Total Income Tax Expense	$	92,350		$	-
Pre-tax Loss	$	(61,186,383	)	$	(46,212,505	)
Effective Income Tax Rate		-0.2	%		0.0	%

SCHEDULE OF RECONCILIATION OF INCOME TAX

A reconciliation of our income tax expense at federal statutory income tax rate of 21% to our income tax expense at the effective tax rate is as follows:

	Year Ended December 31,
	2023			2022
Federal Statutory Tax Rate		21.0	%		21.0	%
Capitalized Construction Costs		1.5	%		0.0	%
Deferred Finance Costs		-4.0	%		-0.4	%
Miscellaneous Permanent Items		0.0	%		0.2	%
Non includible foreign entities loss/(income)		-7.9	%		-13.8	%
Valuation Allowance		-10.8	%		-7.1	%
Effective Income Tax Rate		-0.2	%		0.0	%

SCHEDULE OF DEFERRED TAX ASSETS

Deferred tax assets consist of the following at December 31, 2023 and 2022:

	2023			2022
Deferred tax assets:
Accrued Interest Expense		6,310,548			5,802,873
Accrued Expense		423,311			1,102,779
Partnership Gain		13,175			13,175
Real Estate Impairment		729,312			2,253,228
Other Amortization		1,160,710			1,160,710
Unrealized Loss on Investment		9,856,139			4,324,883
Others		353,693			377,180
Net Operating Loss		2,846,999			1,297,770
Total deferred tax assets:		21,693,887			16,332,597
Deferred tax liabilities:
Accrued Interest Income		(7,148,090	)		(6,304,175	)
Accumulated Depreciation and Amortization		(204,192	)		(140,886	)
Total deferred tax assets:		(7,352,282	)		(6,445,060	)
Deferred Tax Assets / (Liabilities), net		14,341,605			9,887,537
Less valuation allowance		(14,341,605	)		(9,887,537	)
Deferred Tax Asset c/f		-			-

SCHEDULE OF OTHER COUNTRY INCOME TAXES

As of December 31, 2023:

	SG Companies			HK Companies			KR Companies			AU Companies			Total
Calculation:
Cumulative loss & other deferred tax assets before tax	$	(5,016,561	)	$	-		$	-		$	-		$	(5,016,561	)
Effective tax rates		17.00	%		16.50	%		25.00	%		30.00	%
Tax at the domestic tax rates applicable to profits in the countries where the Company operates	$	(852,815	)	$	-		$	-		$	-		$	(852,815	)
Adjustments:
Deferred tax assets not recognized	$	852,815		$	-		$	-		$	-		$	852,815
Income tax expenses recognized in profit or loss	$	-		$	-		$	-		$	-		$	-

As of December 31, 2022:

	SG Companies			HK Companies			KR Companies			AU Companies			Total
Calculation:
Cumulative loss & other deferred tax assets before tax	$	(25,140,421	)	$	-		$	-		$	-		$	(25,140,421	)
Effective tax rates		17.00	%		16.50	%		25.00	%		30.00	%
Tax at the domestic tax rates applicable to profits in the countries where the Company operates	$	(4,273,872	)	$	-		$	-		$	-		$	(4,273,872	)
Adjustments:
Deferred tax assets not recognized	$	4,273,872		$	-		$	-		$	-		$	4,273,872
Income tax expenses recognized in profit or loss	$	-		$	-		$	-		$	-		$	-